Alta Semper Capital, a consumer and healthcare-focused private equity investor operating across several growing markets, with a specific focus on Africa, and based in London, announced that Ahmed Rady has joined the firm’s private equity team as director and head of its Cairo office. The office will serve Egypt and the region by enabling access to investments in the consumer and healthcare sectors.
Afsane Jetha, managing partner and CEO of Alta Semper, said, “there are many interesting investment prospects in Egypt, to which we can apply our international experience. The decision to expand into Cairo and open a second office was a logical step in our business growth strategy, which allows us to capitalise on the exciting business opportunities in the region and to have better accessibility to African markets.”
In that regard, Rady clarified that the company focuses on capturing the tremendous growth opportunity in select African frontier markets in two strategically targeted sectors, healthcare and consumer. These are verticals where the Alta Semper team has significant investment and industry expertise, and where the team believes there is a considerable need for investment in our target countries.
Rady revealed that Alta Semper is close to completing two deals in the healthcare sector in an African country during the current year, within its targeted acquisitions plan, with investments estimated at $200m.
Rady told Daily News Egypt that one of the two possible deals is in the field of hospitals, and the other in the field of medical clinics.
He added that Alta Semper Capital started operations in Egypt last year through the acquisition of a stake in Macro Group Pharmaceuticals.
He noted that Macro Group Pharmaceuticals produces 70 medical supplies, and includes 750 employees, and is one of the largest companies in the production of medicines for dermatology, hair ailments, anti-burns, and cosmetics.
He continued, “the company’s investment strategy depends on the purchase of a majority stake in companies belonging to the healthcare sector and develop them in a manner that achieves good investment returns, allowing the company to exit them later.”
Rady added that the company recently penetrated the Nigerian market by acquiring the largest chain of pharmacies there, with 150 branches and 700 employees, while he refused to disclose details of the financial transaction in accordance with the parent company’s policy.
Alta Semper Capital is a family company and was founded in 2015 to focus exclusively on private investment in growth markets. The company focuses on consumer and healthcare opportunities on the continent of Africa.